ON Semiconductor to amend, restate credit facility in connection with tender offer

By Sara Rosenberg

New York, Dec. 1 - ON Semiconductor Corp. plans to amend and restate its senior secured credit facility and use new borrowings under the facility along with cash on hand to help fund a tender offer for its 12% senior secured notes due in 2008 and 2010, according to a company news release.

The company has about $195 million of 2008 notes outstanding and about $130 million of 2010 notes outstanding.

The tender offer expires on Dec. 29.

ON Semiconductor is a Phoenix-based designer, manufacturer and marketer of power and data management semiconductors and standard semiconductor components.

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